Red Star Capital Bureau reported on September 26th that on September 25th, Maserati, a super luxury car brand under Stellantis Group, announced that he would be appointed as the General Manager of China from Hanbang, responsible for the commercial operations of the Trident brand in China. The appointment will take effect immediately.
Screenshot from Maserati official website
According to Maserati's official website, Maserati points out that as an important part of Maserati's global layout, the strategic significance of the Chinese market is self-evident. Prior to assuming the position of General Manager of Maserati China, Yu Hanbang held key management positions in well-known automotive companies such as Genesis China, SAIC MG Europe, and SAIC Volkswagen.
Maserati CEO David Grasso stated that Yu Hanbang has a profound understanding of the Chinese market, and his rich resume has brought him a forward-looking international perspective, as well as unique insights and business decision-making abilities in the automotive industry, making him an ideal candidate to be responsible for Maserati's business in China. Under his leadership, the Trident brand will continue to deepen its business in China and strive to achieve the development goals of the new era
Financial report data shows that Stellantis Group's net revenue in the first half of the year was 85.02 billion euros, a year-on-year decrease of 14%, lower than the expected 87 billion euros; Net profit was 5.65 billion euros, a year-on-year decrease of 48%, lower than the expected 6.97 billion euros. Due to significant declines in revenue and profits, Stellantis Group has announced that it will shut down unprofitable car brands in the future.
In the first half of this year, Maserati's global shipments were 6500 units, a year-on-year decline of over 50%; The adjusted loss exceeds 82 million euros. There are rumors that the underperforming Maserati will be one of the brands being sold, but Stellantis Group has stated that it will firmly hold onto the Maserati brand.
According to data released by the China Association of Automobile Manufacturers, Maserati's import sales in the Chinese market from January to August this year were 214, 89, 129, 140, 109, 96, 32, and 31 vehicles respectively, totaling 840 vehicles, a year-on-year decrease of 80.3%.
Public information shows that the Maserati brand officially entered the Chinese market in 2004. Maserati (China) Automotive Trading Co., Ltd. is located in Shanghai and is responsible for the brand's sales and market operations in the Chinese market, dealer network development and management, as well as providing after-sales technical support and spare parts services.
At present, Maserati's models sold in the Chinese market include Ghibli, Levante, President, Grecale, GranTurismo, and GranCabrio, with the most well-known first three models ceasing version updates after 2022.
According to Maserati China's official website, the GranCabrio pure electric convertible sports car made its global debut on "Thunder Day" in April this year. Maserati stated that by 2028, all models under the Trident brand will be electrified.
Red Star News reporter Wu Danruo
